SGX listed SC Global Developments Limited, a leading developer of exclusive high-end luxury residences, is pleased to announce that it has received strong response to its private previews for its latest original creation, Martin No. 38 . SC Global revealed the unique concept and details for this latest project in a press release dated 12 August 2008.

SC Global has released 30 units in the first phase of marketing and all 30 units have already been sold. The average price achieved has been $2130 per sq ft (psf) which is above its expected pricing of close to $2000 psf as announced in its press release on August 12th. Prices for the units sold have ranged from $1881 psf to $2494 psf. âWe are naturally very pleased with the response and how well received the project has been with the buyers,â said Simon Cheong, Chairman and CEO of SC Global Developments. âWe believe this is very much a reflection on both the product and the strength of our brand. We have always held the view that there is demand for the right product and with Martin No. 38, there are clearly discerning buyers who want the best and willing to invest in a premium brand. We had been planning to only officially debut this project in late September and therefore this take up and response has exceeded our expectations.â

There are a total of 91 units in this freehold development with units comprised of mainly one-plus-one bedroom and two-bedroom apartments ranging from 969 to 1130 square feet. The development will also include a limited number of larger two-plus-one and three bedroom apartments, ranging from 1335 to 1485 square feet. The 15 storey development will also include four penthouses with private pools.

2. Written by News on 14-08-2008 18:40

Launching at ave price of $2,000 psf

SC GLOBAL will launch Martin No 38 next month at an average price close to $2,000 per square foot.

The company said in a statement yesterday that the 91-unit development in Martin Road, near Mohammed Sultan Road and Clarke Quay, will mostly comprise one-plus-one bedroom and two-bedroom apartments ranging from 969-1,130 sq ft. There will be a limited number of larger two-plus-one and three-bedroom apartments, ranging from 1,335-1,485 sq ft.

Knight Frank director (research and consultancy) Nicholas Mak said the pricing appears a little âbullishâ but the developer may feel the projectâs âdesignâ merits this.

A unit in nearby Robertson Blue sold recently for around $1,800 psf, he said.

And in March, it was reported that about 30 units at Martin Place Residences in Kim Yam Road sold for an average price of of about $1,800 psf after discounts.

SC Global is best known for developing high-end niche projects. And according to its chairman and chief executive officer Simon Cheong: âThere is always room for the right product. Martin No 38 , with the SC Global reputation for quality, will be unique and original. We are confident it will be well received.â

The development is designed by award-winning architect Kerry Hill. It is based on warehouse lofts in New York and London and features high ceilings and seamless interior spaces.

SC Global says: âAn austere and beguiling industrial aestheticism pervades the details of this development, from the blackened tap fittings to the sheet-metal panels in the bathrooms, with their exposed bolt heads, unplastered interior concrete walls, exposed plywood edges of the cabinetry and acres of unvarnished timber.â

SC Global bought the site in 1999 but deferred development until the area had ârejuvenated itself and the context for this housing concept became ripeâ.